The net asset value (NAV) of 49 funds under the Collective Investment Schemes (CIS) or mutual funds currently regulated by the Securities and Exchange Commission (SEC) grew to N111.859 billion last week, compared with the N111.285 billion recorded as of the week ended February 22, 2013.
A Collective Investment Schemes Net Asset Value is the value of the total assets of the fund, excluding its liabilities. The SEC classified these funds into: Equity Based Fund, Money Market Fund, Bond Fund, Real Estate Fund, Balanced Based Fund, Ethical Fund, Sector Fund, Umbrella Fund, and Exchange Traded Fund. Figures at the SEC show that NAV of equity-based fund has grown from N52.286 billion to N53.079 billion in the week under review.
As of March 1, 2013, these funds and their NAV are Stanbic IBTC Nigerian Equity Fund (N16,209,412,958.03); ARM Discovery Fund (N6,044,058,249.78); Coral Growth Fund (N4,205,630,938.93); Nigeria International Growth Fund (N3,019,877,376.95); Legacy Fund (N905,541,471.63); IMB Energy Master Fund (N438,651,889.54); Frontier Fund (N162,861,231.69), and Denham Management Millennium Fund (N23,094,974).
Others are Paramount Equity Fund (N271,428,024); UBA Equity Fund (N1,886,189,870.68); ARM Aggressive Growth Fund (N3,967,006,640.84); ACAP Canary Growth Fund (N1,392,388,414.27); FBN Heritage Fund (N4,912,143,704.31); Anchor Fund (N66,379,953.27); Bedrock Fund (N154,821,980.73); Zenith Equity Fund (N4,300,218,649.76); Afrinvest Equity Fund (N597,347,216.16); BGL Nubian Fund (N306,675,977.26, and SIM Capital Alliance Fund (N4,215,428,520.25).
For Money Market Fund, its NAV dropped from N16.068 billion to N15.811 billion. In this Fund, there are Stanbic IBTC Money Market Fund (N13, 933,786,856.61); FBN Money Market Fund (N1, 687,744,307.27), and UBA Money Market Fund (N189, 743,778.82).
Furthermore, week-on-week, the NAV of Bond Fund grew from N9.923 billion to N10.046 billion. In this Fund, there are Stanbic IBTC Bond Fund (N2,150,652,735.84); UBA Bond Fund (393,494,810.31); Nigeria International Debt Fund (N2,114,562,860.60); BGL Sapphire Fund (N645,313,332.90); Coral Income Fund (N704,901,834.21); Kakawa Guaranteed Income Fund (N3,355,978,088.79), and Zenith Income Fund (N681,807,760.56).
For Real Estate Fund, the NAV rose from N16.015 billion to N16.049 billion. We have Skye Shelter Fund (N2, 341,954,784) and Union Homes REITS (N13, 673,322,292.06).
The NAV of Balanced Based Fund dropped from N9.734 billion to N9.656 billion. This is made up of Women Investment Fund (N133,869,906); UBA Balanced Fund (N534,227,175.05); Union Trustees Mixed Fund (N1,777,092,126.26); Nigeria Global Investment Fund (N100,001,925); Stanbic IBTC Guaranteed Fund (N2,348,484,204.26); FBN Fixed Income Fund (N1,839,883,357.62); Stanbic IBTC Balanced Fund (N930,482,907.02); Nigeria Energy Sector Fund (N954,246,833.24), and Indo Nigeria Unit Trust Fund (N38,137,934.46).
For the Ethical Fund, its NAV dropped from N6.897 billion to N6.854 billion. This comprises Zenith Ethical Fund (N883,351,692.42); Lotus Halal Investment Fund (N2,003,729,524.87); Stanbic IBTC Ethical Fund (N3,723,205,718.37, and ARM Ethical Fund (N243,848,773.77).
The Sector Fund has DVCF Oil & Gas Fund, while Umbrella Fund NAV dropped to N2.340 billion against N2.343 billion the preceding week. This includes Stanbic IBTC Aggressive Fund (N402,347,514.07); Stanbic IBTC Absolute Fund (N 1,364,484,398.34), and Stanbic IBTC Conservative Fund (N573, 475,517.24).
In the Exchange Traded Fund, there is New Gold Exchange Traded Fund with NAV risen to N362, 100,000 from N360,000,000 in the preceding week.